As materials for high speed cutting tools for steel and cast iron, composite materials in which a super hard alloy is coated with ceramics, and alumina sintered materials have been used. However, tools of the composite material of a super hard alloy and ceramics have insufficient heat crack resistance, so that the practical cutting speed is restricted at most 300 m/min. On the other hand, tools of the alumina sintered material have superior heat oxidation resistance in high speed cutting and a low chemical reactivity in comparison to the above-mentioned composite material tools, but they are not satisfactory in toughness and heat impact resistance, and are liable to disadvantageously develop a broken edge during continuous cutting (lathe) as well as discontinuous cutting (fraise) when a material to be cut yields discontinuous scraps upon cutting, such as a cast iron.
It is difficult to cut a cast iron material stably at a high speed using conventional cutting tools of the above-mentioned composite material or alumina sintered material.